Four-Unit Townhome-Style Multifamily
New
For Sale
$775,000
7308 Kingman Street, Panama City Beach, FL 32408
Residential, Panama City Beach, FL
Property Size4,464 SF
Price / SF$173.61
Days on Market7
Property Features for 7308 Kingman Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
6
Full bathrooms
4
Half bathrooms
4
Rooms
Bedroom 1, Bedroom 7, Bathroom 4, Bedroom 5, Bedroom 4, Bathroom 5, Bathroom 6, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 7, Bedroom 8, Bathroom 2, Bathroom 8, Master Bedroom, Bedroom 6
Appliances
Microwave, Refrigerator
Subdivision
Thomas Drive Park U-5
Elementary school
Breakfast Point
Middle school
Breakfast Point
High school
Arnold
Directions
Traveling south on Thomas Drive, right on Laird St, right on Kingman St, property is on the right.
Standard status
Active
APN
27921-681-000
Size
4,464 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
THOMAS DRIVE PARK UNIT 5LOT 27 BLK DLESS PCLS (27.1) MAP 57D
Tax Annual Amount
1181
Legal Description
THOMAS DRIVE PARK UNIT 5LOT 27 BLK DLESS PCLS (27.1) MAP 57D
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1983
Building materials
Stucco
Architectural style
Other
Listing Agency:
Dalton Wade Inc
(888) 668-8283
Listed By:
Andrei Cunitin · License #3479645
(850) 960-3857
Added: Oct 22
Changed: Oct 27
Last Checked: Oct 28 at 12:06AM
MLS# 1014155
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1983, this 4,464-square-foot multifamily property contains four separate townhome-style residences. Each unit has two bedrooms and one-and-a-half bathrooms, and all four are occupied. The building has stucco construction, central heating and air conditioning, and a septic tank. A drain field was recently installed; the roof was replaced in 2018, and one HVAC system was replaced in 2025. An additional parcel of approximately 0.274 acres is included, and a property survey is available.
The property is directly across from Naval Support Activity Panama City and a short drive from the beaches, shops, grocery stores, and restaurants in Panama City Beach. Tenants have been in place for more than five years.
The property is directly across from Naval Support Activity Panama City and a short drive from the beaches, shops, grocery stores, and restaurants in Panama City Beach. Tenants have been in place for more than five years.
Key Highlights
- Four occupied townhome‑style units, each with 2 bedrooms and 1.5 bathrooms
- 4,464 square feet; built in 1983
- Additional parcel of approximately 0.274 acres included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,498
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$949,960
$950.0K
Cap Rate 7%
$678,543
$678.5K
Cap Rate 9%
$527,756
$527.8K
Market Conditions
NOI Build-Up for 4,464 SF
Gross rent
$72.3K $16.20/SF
− Vacancy
−$4.5K −$1.00/SF
EGI
$67.9K $15.20/SF
− OpEx
−$20.4K −$4.56/SF
NOI
$47.5K $10.64/SF
Area
Bay County, FL
Vacancy
6.17%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$949,960
Cap Rate 7%
$678,543
Cap Rate 9%
$527,756
Alternative Uses
Best Use
Multifamily LT 5
$678.5K
$593.7K – $791.6K
NOI $47,498 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$621.8K
$544.1K – $725.4K
NOI $43,525 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,046 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
Explore this area
Business Placement
Demographics for 32408, FL
17,479
Population
17,018
Households
1
Avg Household Size
48
Median Age
39%
College-Educated
96%
High-School Grad
8.6 sq mi
ZIP Area
2,032
Density / Sq Mi
$72,322
Median Household Income
$42,749
Median Earnings
$1,453
Median Rent
$352,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are occupied by tenants, with each unit offering two bedrooms and one-and-a-half bathrooms.
Where is this quadplex located?
The property is located at 7308 Kingman Street Panama City Beach, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Four occupied townhome‑style units, each with 2 bedrooms and 1.5 bathrooms; 4,464 square feet; built in 1983; Additional parcel of approximately 0.274 acres included
